Set Goals, Wishes and Dreams and remove Targets from your business life
As another New Year starts it is a time to reflect on your personal life as well as your business life. It may be a time you start setting yourself targets and planning out how you will hit those targets. Don’t!
I understand that most businesses may work to sales targets, growth targets and customer acquisition targets but lets try and look at this differently.
Targets put unnecessary pressure on business owners, departments and employees which can have a detrimental affect on your business.
- Cutting corners reducing the quality of a product to save money and reach financial targets
- Neglect of smaller clients/customers to focus on acquiring new clients.
- Providing inadequate customer support to prevent customers from gaining refund/cancelling.
- Using ambiguous marketing techniques.
All of the above may help you hit targets in the short term but will only be detrimental to your business in the long run. Instead lets focus on Goals, wishes and dreams.
Goals are short term aims that you would like your business to strive towards. If your business model needs changing do it right to strive towards your goals then change gradually to help yourself reach goals. You should never set a goal that is so far out of reach that it compromises your business. It should be something that you can achieve and build on.
If your goal is to acquire 100 new clients in 3 months and you only achieve 95 don’t think of it as a failure. You gained 95 new clients! You can always improve on that set your next goal at 100 and review your process. Is there anything you can do better? Can you inform your customers more?
It should never be about improving margins over improving your business for the benefit of your customer.
Wishes are medium term, 1 year to 3 years. I always set myself my business wish at the beginning of the year. I can then reflect on this. This can be anything. One example of my business wish is that i wanted to be able to hire a new member of staff to take on more responsibilities so that I could have more work life balance. This was not something I could set a target for. It was not a goal. As the person i wished to hire would have to be the right fit and have the same mentality as myself when it came to business. It was not something that i was going to force on my business, it would need to be right.
Other business wishes can be to do with expanding, providing a new product, or become more publicly known. These are things you can hope to achieve but need to happen naturally and not be forced.
Dreams are long term plans. Think 10 years from now. I always think of an old TV program called ‘This is your Life’ when i think of my business dreams. Imagine you ten years from now, you’re being handed a big red book of all of your business achievements what would you like to be in your big red book?
The great thing about dreams is that they always evolve. You never stop dreaming. In ten years time i want to be earning x amount. I want to be overseeing my business. I want to drive a Ferrari. They may seem out of reach but dreams evolve and as you get closer to your dream or even achieve them you will find yourself dreaming of more. It is always important to dream. Without dreams we lose the enthusiasm and love that is needed to continue on with a successful business. If you don’t love what you do why do it?
Make yourself your Goal, Wish and Dream
One final thing before I leave you to conquer 2019. Never forget YOU. Make work life balance an important goal, wish and dream of yours. Always set time for yourself, to read, exercise, eat good food, socialise or even just sit down and watch that box set you always meant to get round to. What is the point in working to achieve your business goals, wishes and dreams only at the end of it all to look back and realise everything you missed out on in YOUR life?
Happy New Year and i hope you achieve everything you wish this year.